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UL Solutions Inc. balance sheet

At the end of fiscal 2025, UL Solutions Inc. had total assets of $2.92bn, total liabilities of $1.63bn and shareholders' equity of $1.26bn. It held $295m in cash against $494m of debt: net debt of $199m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents322315298295434
Receivables—362380422471
Total current assets—9539211,0001,234
Goodwill647623633656642
Total assets—2,7362,8002,9213,119
Accounts payable—169182183179
Deferred revenue (current)—162162173347
Total current liabilities—709740760866
Short-term debt—0500—
Long-term debt—904692491301
Total debt0910747494303
Total liabilities—2,0581,8691,6271,499
Shareholders' equity1,0776549041,2621,595
Net debt (negative = net cash)−322595449199−131
Shares outstanding200m200m200m201m—

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: ULS vs VRSKFCN vs ULSCLVT vs ULS

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Figures from UL Solutions Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to UL Solutions Inc.